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2016 May 1Z0-517 Study Guide Questions:
Q171. Company ABC has decided to use the invoice approval workflow to require approval on all invoices. Select two exceptions where Payables automatically sets the approval status to not required. (Choose two.)
A. invoices imported through EDI
B. invoices created after invoice workflow approval is enabled
C. invoices created using the Pay on Receipt Autoinvoice program
D. expense reports imported through the Payables Expense Report Import program
E. recurring invoices if the approval workflow option required was not enabled on the template
Q172. Identify three statements that describe Payment Terms. (Choose three.)
A. default from the supplier site
B. cannot be specified in import tables
C. can be used for electronic payments
D. can be used to schedule payments for an invoice
E. automatically calculate due dates, discount dates, and discount amounts for each invoice
Q173. Select three levels where additional reporting currency representations can be maintained. (Choose three.)
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Q174. Why would you use the clearing payment method?
A. To generate a payment document to clear a debit memo
B. To generate a payment document to clear a credit memo
C. To account for intercompany expenses when you disburse funds through banks
D. To account for intercompany expenses when you do not disburse funds through banks
Q175. As part of its closing process, XYZ Corporation reviews receipt accruals. Occasionally, Payables matches incorrectly, and therefore they find that some perpetual accruals never clear, leaving reconciliation items on their accrual reports. Which two actions can they perform to solve the problem? (Choose two.)
A. Reverse the invoice distributions and rematch if possible.
B. Run the Uninvoiced Receipts Report to identify the receipt accrual that has not cleared and create a manual journal entry in General Ledger to clear the receipt from the report.
C. Run the Matching Hold Detail Report to identify the receipt that has not cleared and use the Write-Off window to remove the item from reappearing on subsequent reports. Create a manual journal entry in General Ledger to clear the accrual.
D. Run the Accrual Rebuild Reconciliation Report to identify the receipt accrual that has not cleared and use the Write-Off window to remove the item from reappearing on subsequent reports. Create a manual journal entry in General Ledger to clear the accrual.
Q176. Identify three ways in which subledgers transfer information to General Ledger. (Choose three.)
B. batch transfer
C. detail journals
D. line-level records
E. summary journals
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Q177. ABC Enterprise has operations in the US, France, and Italy. The US, France, and Italy operations have separate legal and statutory requirements. The tax requirements also differ for each country. Identify the action you would perform to set up Oracle General Ledger.
A. Create a separate legal entity and accounting setup for each operation.
B. Create one legal entity and three accounting setups for the US, France, and Italy.
C. Create three legal entities for the US, France, and Italy, and one accounting setup.
D. Create three legal entities for each operation. Create one accounting setup for France and Italy, and one for the US.
E. Create two legal entities: one for France and Italy, and one for the US. Create two accounting setups: one for France and Italy, and one for the US.
Q178. Which three activities would use summary accounts? (Choose three.)
A. creating a monthly recurring standard journal entry to amortize goodwill
B. allocating the total monthly costs of the Information Services department to other departments
C. estimating a sales commission accrual based on the total of all product sales for each division
D. formulating a budget for employee benefits in each company based on the total of all budgeted employee salaries
Q179. You are implementing Oracle E-Business Suite Release 12 General Ledger for ABC Corporation. Identify two setups required for journal approval. (Choose two.)
A. Enable journal approval for the Journal Category window.
B. Disable the Journal: Find Approver Method profile option.
C. Enable the Journal: Allow Preparer Approval profile option.
D. Configure the GL journal approval process in Oracle Workflow Builder.
Q180. How do you know funds are available in the budgetary control summary account template?
A. when the result is less than one, regardless of the balance type
B. when the result is greater than one, regardless of the balance type
C. when the debit balance type has a positive amount, and the credit balance type has a negative balance
D. when the debit balance type has a negative amount, and the credit balance type has a positive amount
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